Interest Rate Switch definition

Interest Rate Switch shall have the meaning as set forth in Section 2.05. “L/C Payment” shall have the meaning set forth in Section 2.06.
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Interest Rate Switch means, in relation to a Facility, the switch of the Interest Rate applicable to all or part of that Facility to another annual interest rate;
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Interest Rate Switch shall have the meaning set forth in Section 2.05(a).
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Examples of Interest Rate Switch in a sentence

  • The Lender agrees that Ex-Im Bank shall not deliver a substitute Disbursement Approval with respect to the exercise of an Interest Rate Switch.

  • In relation to a Facility, you may request an Interest Rate Switch.

  • If the applicable Facility is not repaid in full on the last day of the final interest period to which the Interest Rate Switch applies, the Interest Rate applicable to that Facility will automatically revert to our standard variable interest rate as at that date plus any Low Equity Margin unless it is agreed that a different Interest Rate will apply.

  • We can choose whether or not to approve your request for an Interest Rate Switch.

  • For the avoidance of doubt, a Discount Margin Term will expire if an Interest Rate Switch is agreed to in accordance with clause 8.1.

  • An Interest Rate Switch means a switch from a floating interest rate to a fixed interest rate or vice versa.

  • You and the Guarantor(s) will be sent written confirmation of the Interest Rate Switch once we have approved your request.

  • Provided you are not in breach of any of the terms of this Agreement, during the Term of this Loan you may request an Interest Rate Switch, without the requirement for any of the parties to this Agreement to sign further documents.


More Definitions of Interest Rate Switch

Interest Rate Switch shall have the meaning set forth in Section 2.05(a). “L/C Bank”, with respect to each Letter of Credit, shall mean a commercial bank acceptable to the Lender and Ex-Im Bank which either issues, confirms or advises such Letter of Credit. For the avoidance of any doubt, the Lender can be an L/C Bank. “L/C Payment” shall have the meaning set forth in Section 2.06.
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Interest Rate Switch agree that in accordance with the terms of this Facility Agreement, any one person named as Borrower may request an Interest Rate Switch during the term of this Facility, and we may act upon that request which will bind all of you. Please delete the above clause if you require us to act upon the request of all of you, rather than only one. • INTEREST ONLY PERIOD: agree that in accordance with the terms of this Facility Agreement, any one person named as Borrower may request an Interest Only Period during the term of this Facility, and we may act upon that request which will bind all of you. Please delete the above clause if you require us to act upon the request of all of you, rather than only one. Dated this day of EXECUTED AND DELIVERED as a deed SIGNED by HOUSESHARE COMPANY TWO LIMITED by Director and by Director each being a Director of the above Company WITNESS to all of the above signatures (otherwise specify) Witness Signature Witness Name Witness Occupation Witness Address FACILITY SCHEDULE Facility Number: 12-3107-0020267-00 Facility Type: Revolving Credit Facility Description: Commercial Flexible Finance Facility Facility Limit: An Amount of $77,500.00. This represents the maximum amount that you may draw down under this Facility (as may be varied from time to time by agreement between us). Initial Unpaid Balance: Nil Term: Reviewable by us. We may terminate the Facility at any time. Drawdown: Refer to clause 7 of the Terms. Authority to Disburse: You authorise and direct us to make the first drawdown by debiting the Facility Account and crediting your solicitor’s trust account with the amount requested by your solicitor. Termination of Offer Date: 3 June 2017 (refer clause 2.3 of the Terms).
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Related to Interest Rate Switch

  • Interest Rate Swap means any interest rate swap transaction entered into pursuant to the Agreement between Party A and Party B as evidenced by a Confirmation;

  • Interest Rate Swap Agreement means the agreement(s) (including any further replacement agreements) entered into between the Guarantor LP and the Interest Rate Swap Provider(s) in the form of an ISDA Master Agreement, as the same may be amended, varied, supplemented, restated or extended from time to time, including a schedule and confirmations in relation to each Tranche or Series of Covered Bonds;

  • Interest Rate Cap means any interest rate cap transaction entered into pursuant to the Agreement between Party A and Party B as evidenced by a Confirmation;

  • Interest Rate Contract means any interest rate swap agreement, interest rate cap agreement, interest rate floor agreement, interest rate collar agreement, interest rate option or any other agreement regarding the hedging of interest rate risk exposure executed in connection with hedging the interest rate exposure of any Person and any confirming letter executed pursuant to such agreement, all as amended, restated, supplemented or otherwise modified from time to time.

  • Interest Rate Cap Provider if any, shall mean the entity listed as the Interest Rate Cap Provider in the Series Term Sheet, in its capacity as obligor under the Class Interest Rate Caps, or if any Replacement Class Interest Rate Caps or Qualified Substitute Cap Arrangements are obtained pursuant to Section 15, the obligor with respect to such Replacement Class Interest Rate Caps or Qualified Substitute Cap Arrangements.

  • Periodic Interest Rate Cap As to each adjustable rate Mortgage Loan, the maximum increase or decrease in the Mortgage Interest Rate on any Adjustment Date pursuant to the terms of the Mortgage Note.

  • Interest Rate Period means any Daily Interest Rate Period, Weekly Interest Rate Period, Short-Term Interest Rate Period, Long- Term Interest Rate Period or ARS Interest Rate Period.

  • Interest Rates means the interest rates provided for in Sections 2.11 and 2.12 of the Credit Agreement.

  • Interest Rate Cap Agreement means, as applicable, an Interest Rate Cap Agreement (together with the confirmation and schedules relating thereto) in form and substance reasonably satisfactory to Lender between Borrower and an Acceptable Counterparty or a Replacement Interest Rate Cap Agreement.

  • Interest Rate Cap Payment (a) With respect to the Class A-2, Class A-3 and Class A-4 Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 35 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) one-month LIBOR rate as of the related reset date under the Class A-2, Class A-3 and Class A-4 Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis, (ii) the applicable Class A-2 and Class A-3 notional amount set forth on Schedule A to the Class A-2, Class A-3 and Class A-4 Cap Agreement for that Distribution Date and (iii) the multiplier set forth on Schedule A to such Interest Rate Cap Agreement; (b) with respect to the Class M Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 43 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) one-month LIBOR rate as of the related reset date under the Class M Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis; (ii) the applicable Class M notional amount set forth on Schedule A to the Class M Cap Agreement for that Distribution Date and (iii) the multiplier set forth on Schedule A to such Interest Rate Cap Agreement; and (c) with respect to the Class B Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 43 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) one-month LIBOR rate as of the related reset date under the Class B Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis; (ii) the applicable Class B notional amount set forth on Schedule A to the Class B Cap Agreement for that Distribution Date and (iii) the multiplier set forth on Schedule A to such Interest Rate Cap Agreement.

  • Prime Interest Rate means the publicly quoted variable annual basic rate of interest, published from time to time by the bankers of FUNDI as being their prime rate and as certified by the auditors of FUNDI, whose appointment it shall not be necessary to prove. Details of such bankers will be provided to the Applicant when so requested in writing.

  • Interest Rate Contracts means all interest rate swap agreements, interest rate cap agreements, interest rate collar agreements and interest rate insurance.

  • Interest Rate Agreement means with respect to any Person any interest rate protection agreement, interest rate future agreement, interest rate option agreement, interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate hedge agreement or other similar agreement or arrangement as to which such Person is party or a beneficiary.

  • Interest Rate shall have the meaning assigned to such term or analogous term in the Mortgage Loan Agreement.

  • Contract Interest Rate means the lesser of (a) the highest rate permitted under Requirements of Law or (b) 200 basis points per annum plus the rate per annum equal to the publicly announced prime rate or reference rate for commercial loans to large businesses in effect from time to time quoted by Citibank, N.A. as its “prime rate.” If a Citibank, N.A. prime rate is not available, the applicable prime rate will be the announced prime rate or reference rate for commercial loans in effect from time to time quoted by a bank with $10 billion or more in assets in New York City, N.Y., selected by the Party to whom interest is being paid.

  • Minimum Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased.

  • Maximum Interest Rate means the rate of interest that results in the maximum amount of interest allowed by applicable law.

  • Variable Interest Rate means any interest rate that does not qualify as a fixed credit interest rate;

  • Replacement Interest Rate Cap Agreement means an interest rate cap agreement from an Acceptable Counterparty with terms identical to the Interest Rate Cap Agreement except that the same shall be effective in connection with replacement of the Interest Rate Cap Agreement following a downgrade, withdrawal or qualification of the long-term unsecured debt rating of the Counterparty; provided that to the extent any such interest rate cap agreement does not meet the foregoing requirements, a “Replacement Interest Rate Cap Agreement” shall be such interest rate cap agreement approved in writing by each of the Rating Agencies and Lender with respect thereto.

  • LIBOR Interest Rate means the rate per year (rounded upward to the next one-sixteenth (1/16th) of one percent (0.0625%), if necessary) determined by CNB to be the quotient of (a) the LIBOR Base Rate divided by (b) one minus the Eurocurrency Reserve Requirement for the Interest Period; which is expressed by the following formula: LIBOR Base Rate

  • Applicable Interest Rate means the rate of interest prescribed under the Act from time to time;

  • Interest Rate Hedge means an interest rate exchange, collar, cap, swap, adjustable strike cap, adjustable strike corridor or similar agreements entered into by the Borrower or its Subsidiaries in order to provide protection to, or minimize the impact upon, the Borrower, any Guarantor and/or their respective Subsidiaries of increasing floating rates of interest applicable to Indebtedness.

  • Interest Rate Option means any LIBOR Rate Option or Base Rate Option.

  • Interest Rate Adjustment Date With respect to each Adjustable Rate Mortgage Loan, the date, specified in the related Mortgage Note and the related Mortgage Loan Schedule, on which the Mortgage Interest Rate is adjusted.

  • Reference Interest Rate means the interest rate which is used as the basis for calculating any interest to be applied and which comes from a publicly available source which can be verified by both parties to a payment service contract;

  • Term Loan Interest Rate means for any day a per annum rate of interest equal to the greater of either (i) 9.25% plus the prime rate as reported in The Wall Street Journal minus 3.50% and (ii) 9.25%.